PancakeSwap is a decentralized exchange. Launched at September 2020, it quickly became very popular since it allows BEP20 tokens to be exchanged on Binance Smart Chain. Users can swap BEP20 tokens with lower fees than ERC20 protocol. PancakeSwap can also be used as liquidity pool, farm and stake while participants to the pool (Liquidity Provider) can earn rewards (e.g. tokens).